defi-research

DEX aggregator by @0xproject. Search and trade over 9 million tokens across 130+ DEXs and 12 chains. It happens on /matcha 🍵.

www.linktr.ee/matcha.xyz

A distributed network for various protocols on ETH, BNB Chain, Avalanche, Polygon, OΞ, Arbitrum, Gnosis, Fantom, Klaytn, Aurora, zkSyncEra and Base.

Ironically, Uniswap V4 could be creating a playing field that favors aggregators like @matchaxyz and @1inchnetwork from swap routing perspective. 🧵

Software Engineer @megaphone-hq

Prev: @0xproject

Liquidity aggregation isn't Uniswap's strength—it's what aggregators like @matchaxyz excel at.

We can already see this in the wild.

For example, Bunni is built on top of Uniswap V4 as a hook.
 
While @matchaxyz can route BUNNI -> ETH, Uniswap fails to do so—even though Bunni is built on Uniswap V4. This suggests the Uniswap router isn’t even aware of the pool.

It's super early, but it seems like Uniswap V4 shaping a playing field that Uniswap doesn’t excel in.

I'm curious what the game plan is for Uniswap.

My guess is that Uniswap will eventually  start integrating some of the popular hooks or lean harder into Uniswap X outsourcing routing to third-party solvers. 🍿

Uniswap's strength has never been its aggregation or routing ability.

Uniswap has always lagged behind aggregators like @matchaxyz and @1inchnetwork in routing. But it remained the go-to place for users who weren’t price-sensitive.

On Ethereum, where Uniswap V2/V3 dominated liquidity, it could still provide decent quotes by aggregating its own pools. But on chains like Base, where Uniswap isn’t the dominant DEX, this advantage fades.